Credit card payments go mobile

Visa Europe has today announced trials of a new alert service, which sends an instant transaction confirmation to the cardholder’s mobile phone when they use their Visa debit, credit, or prepaid card. The trial is currently taking place with UK staff and Visa said it is working closely with member banks through which it will bring the technology to market.

Consumers will be able to choose to receive the alert via an SMS or email on any mobile device, or to an application downloaded to a smartphone such as an iPhone or Android device.

“The service will provide additional peace of mind for consumers when using their cards as the value, location and time is instantly confirmed,” a Visa Europe spokesman said.

“Visa’s mobile alert service will allow consumers to be in constant control of their card payments.”

Sandra Alzetta, senior vice president of innovation and new product development at Visa Europe, said the company had chosen to run the test during the summer holiday season as it’s the period when people travel most.

“Feedback from our current pilots indicates that consumers often receive the alerts before their cards are even handed back to them at the point of sale,” Alzetta said.

“If something looks suspicious, this will give them the power to put a stop to any fraud taking place on their cards.”

It is envisaged that future developments could make it possible for consumers to customise the format and content of alerts to fit their individual needs.

For example, instant conversion into the user’s home currency while abroad will make it easier to keep on top of budgets.